Over recent years, the financial services industry has come to be increasingly defined by, and reliant upon, new technologies and systems. Alongside the opportunities afforded by the increased use of technology, regulators are increasingly aware of the growing threat of disruption caused by technology outages and cyber-attacks.
Whilst EU regulators have traditionally focused on capital and liquidity risks when thinking about resilience of the financial sector, the shift towards an increasingly technology-reliant financial sector, and the high-profile IT outages and cyber-attacks this creates, has increased the focus on other risks to the stability of financial services firms.
Find out what trends are emerging in global litigation and arbitration for Financial Institutions.
The FCA has sent a Dear CEO letter to payment firms requiring them to review their safeguarding arrangements for customer funds and to attest to compliance.
IOSCO has published a consultation on the supervision of platforms which trade crypto-assets.
2019 will see the defragmentation of the country’s banking laws.